Member Info for Barrett

The gold price was in the red all morning today, then went into the green at around 2pm; UFO share price picked up at around 2.30 pm. I've been invested since May and I've seen the share price follow the gold price over and again.
My guess is that lots of big-money traders have automatic buys set up for when gold goes green, buying into any company vaguely connected to precious metals. When gold falls back into the red, these traders have automatic sells set up.
Would be glad to hear of any other ideas of why UFO shares seem to follow the price of gold.
Since I started typing, silver has followed gold into the green. That also happens over and again.

ShareCafe today: "Iron ore prices are up 56 per cent in the year to date -- compared with around 24 per cent for copper -- and is 2020's best performing commodity".

Thanks Max

I've got my IRON Hamersley. Ouch.

Shouston, "g ORE geous" is inspired. When I come up with another I will post it .

g ORE geous !

Thanks Max, it sure sounds exciting. I hope the ore is as accessible as it seems.
The press release referred to Alien Metal's portfolio of "base and precious metals exploration projects". I like the fact that we can be looking for "precious and base metals" one minute, and "base and precious metals" the next minute! All bases covered, well done management.

Would someone be kind enough to summarise what the new Turner Pope press release is saying about Hamersley? It sounds very good, but is there anything new? Thanks xx

PS Napthman1, here's an interesting sentence from Wikipedia's goldmining page:
"The largest producing gold mine in the world, the Grasberg mine in Papua, Indonesia, is primarily a copper mine."

Yes it's a copper joint venture with Capstone Mining, settled on 22nd October. Good timing with copper doing so well.

The iron ore is a long way from being on the trucks, that's the only reason new investors are not jumping onboard. If all goes to plan, they will be joining us soon enough.
In the meantime, go gold, go silver, two blue days in a row.

Bottoms up Aliens xx

Pickuzawinnah, let's raise an imaginary glass to 3p plus. Isn't it pleasant to watch the share price move when it's going in the right direction?

I reckon people interested in this share are watching and waiting today to make sure this silver rise is not a blip – it's been such a long slog down from 3p, they want to make sure it's finished and I don't blame them.

Thanks for the clarity Uforus27.

I guess something other than the precious metal price has caused Ggp and Eua to head upwards for months.
Wish I knew the other main factors that cause UFO to go up and down.

PS Hulluser, you can watch the price of gold and silver moving at "USAgold live".
I sure hope we're all invested in an underwater beach ball! The bounce would be delightful.

Hulluser, I'm newish too. So far I've gathered that the silver price usually follows the gold price, and gold does well when everything else (companies, commodities, currencies) is doing badly: I guess because it's solid stuff and it's not going to fall drastically overnight. I hope some more seaseoned investors on this chat can tell you more.

Hi ho silver, awaaaay!! Let's hope the upturn last for more than a day . . .

:)